YEREVAN, February 14. /ARKA/. The first issue of bonds by the Electrical Netwroks of Armenia (ENA) national power distribution company to the tune of AMD 32 billion has been placed ahead of schedule, the company’s CEO Karen Harutyunyan said.
The company issued last December some 320,000 bonds worth AMD 32 billion. Some 36.1% of the bonds were purchased by banks, 52% by pension funds and the remaining 10.8% by retail investors.
“In total, our company attracted 311 investors, of which only 44 are banks and institutional investors. The remaining 297 are individuals and other legal entities,” Harutyunyan said at a press conference today.
The CEO emphasized that this is the largest issue of AMD bonds in Armenia. Earlier Moody’s Investors Service agency assigned B2 rating to ENA.
Karen Harutyunyan also noted that now the company is preparing to have the bonds listed on the Armenian Securities Exchnage (AMX), and everyone will be able to buy them on the secondary market.
The interest rate on bonds is set at 11.4%, maturity is 3 years, coupon payments periodicity – every 6 months. The underwriter of the issue is Ameriabank.
The Electrical Networks of Armenia CJSC is part of Tashir Group of Companies, owned by Russia-based businessman Samvel Karapetyan. ENA manages medium and low voltage distribution networks in Armenia, serving 1 million subscribers.
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